Shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) dropped 5.8% on Monday . The company traded as low as $2.74 and last traded at $2.74. Approximately 1,168,915 shares changed hands during trading, a decline of 32% from the average daily volume of 1,731,321 shares. The stock had previously closed at $2.91.

ACHN has been the topic of a number of analyst reports. BidaskClub lowered shares of Achillion Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research raised shares of Achillion Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. William Blair reaffirmed an “outperform” rating on shares of Achillion Pharmaceuticals in a report on Thursday, March 7th. Finally, Barclays lowered shares of Achillion Pharmaceuticals from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $5.00 to $2.50 in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.50.

The firm has a market capitalization of $392.58 million, a price-to-earnings ratio of -5.37 and a beta of 2.41.

Achillion Pharmaceuticals (NASDAQ:ACHN) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.14). As a group, equities research analysts forecast that Achillion Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Several large investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its holdings in shares of Achillion Pharmaceuticals by 21.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 21,014 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 3,700 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Achillion Pharmaceuticals by 5.5% in the 1st quarter. Raymond James & Associates now owns 75,415 shares of the biopharmaceutical company’s stock worth $223,000 after buying an additional 3,965 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Achillion Pharmaceuticals by 4.8% in the 1st quarter. Wells Fargo & Company MN now owns 100,546 shares of the biopharmaceutical company’s stock worth $298,000 after buying an additional 4,581 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Achillion Pharmaceuticals by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,624,873 shares of the biopharmaceutical company’s stock worth $4,809,000 after buying an additional 9,781 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Achillion Pharmaceuticals in the 1st quarter worth $33,000. 74.10% of the stock is currently owned by hedge funds and other institutional investors.

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About Achillion Pharmaceuticals (NASDAQ:ACHN)

Achillion Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small molecule drug therapies for immune system disorders. Its lead drug candidate is ACH-4471, an inhibitor of factor D that is Phase II clinical trials for patients with paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulopathy/immune complex membranoproliferative glomerulonephritis.

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